The New York Times

The Federal Deposit Insurance Corporation is bracing for a new wave of bank failures that could cost the agency many billions of dollars and further strain its finances. With bank failures running at their highest level in nearly two decades, the F.D.I.C. is racing to keep up with rising losses to its insurance fund, which safeguards savers' deposits. On Tuesday, the agency announced that it had placed 702 lenders on its list of "problem" banks, the highest number since 1993. Not all of those banks are destined to founder, and F.D.I.C. officials said Tuesday that they expected failures to peak this year.
Continued: http://www.nytimes.com/2010/02/24/business/24fdic.html